Air Insulated Transformer Market Size - By Winding (Two Winding, Auto Transformer), By Rating (≤ 10 MVA, > 10 MVA to ≤ 100 MVA, > 100 MVA to ≤ 600 MVA, > 600 MVA), By Application (Residential, Commercial & Industrial, Utility), & Forecast, 2024 – 2032

Air Insulated Transformer Market Size

Air Insulated Transformer Market was valued at USD 4.6 billion in 2023 and is set to grow at 6% CAGR between 2024 and 2032. The electricity industry presents a multitude of opportunities worldwide, with variations based on factors such as operational scope, network attributes, customer base, and ownership arrangements. Models employed to assess tariffs and revenue streams acknowledge this diversity, offering a framework for meaningful comparisons. Notwithstanding these differences, both Distribution System Operators (DSOs) and Transmission System Operators (TSOs) typically ensure a high standard of service quality and reliability to their clientele.
 

The electrical grid within the region operates as an interconnected ecosystem involving manufacturers, asset owners, government entities at federal, state, and local levels, as well as service providers. For instance, in 2021, the U.S. Department of Energy, particularly through the Office of Electricity Delivery & Energy Reliability (OE), collaborates with both private and public partners to fortify, enhance, and modernize the energy infrastructure.
 

Air Insulated Transformer Market Trends

Throughout 2021, industry experts and political leaders in the United States engaged in ongoing discussions regarding infrastructure investment, rehabilitation, and development. America's infrastructure challenges were prominently featured in the State of the Union Address, highlighting the imperative for increased investment. A bipartisan plan was proposed to support the renovation and enhancement of the nation's infrastructure, with the primary objective of generating employment opportunities nationwide.
 

Air Insulated Transformer Market Analysis

Based on winding, the auto transformer segment is set to reach over 3.2 billion by 2032. Enhanced transformation capabilities and operational adaptability, particularly in comparison to competing counterparts, are poised to drive growth in the auto transformer market share. Key factors such as a compact unit design, sustainable pricing, and superior efficiency are critical drivers for product adoption.
 

Based on application, the commercial & industrial segment will observe about 5.8% growth rate from 2024 to 2032. The swift commercialization and supportive government reforms directed towards the incorporation of renewable-powered infrastructure within the commercial sector are anticipated to fuel industry growth. Moreover, the uptake of advanced on-site electricity generation technologies and continuous smart control networking initiatives will also bolster the rising demand for transformers.
 

Asia Pacific air insulated transformer market is forecasted to exceed USD 1.5 billion by 2032, driven by increasing electricity demand in developing nations. Emerging economies like China and India present favorable markets as they actively expand existing power capacities and infrastructure to meet rising electricity needs. Evolving power consumption patterns in households and businesses will further propel industry growth. Moreover, the increasing investments toward transmission projects are further surging the product demand.
 

Aging grid infrastructure in the U.S. is driving the need for upgrades and replacements of existing transformers. Air insulated transformers are often chosen for their reliability, ease of maintenance, and cost-effectiveness in modernizing the grid. With an increasing focus on renewable energy sources like wind and solar power, there's a growing demand for air insulated transformers to facilitate the transmission and distribution of electricity generated from these sources.
 

Air Insulated Transformer Market Share

GE Grid Solutions holds a significant stake in the transformer market, known for its extensive expertise in manufacturing and engineering various transformer types, including gas insulated, vacuum insulated, air insulated transformers, among others. With a strong history deeply ingrained in the electrical equipment sector, the company has provided transformer solutions across a wide range of applications, covering commercial, industrial, and utility sectors.
 

Air Insulated Transformer Market Companies

Some of the major key players operating across the air insulated transformer industry are:

• ABB
• ARTECHE
• Celme S.r.l.
• CG Power & Industrial Solutions Ltd.
• DAIHEN Corporation
• Eaton
• Elsewedy Electric
• General Electric
• Hyosung Heavy Industries
• IMEFY GROUP
• Kirloskar Electric Company
• Mitsubishi Electric Corporation
• Ormazabal
• Pfiffner Group
• Schneider Electric
• Siemens Energy
• Toshiba International Corporation
• Trench Group
   

Air Insulated Transformer Industry News

• In January 2022, General Electric has introduced a range of power transformers tailored to support renewable energy initiatives. These transformers, such as the GE-Mistral-14 and the 275 kV to 400 kV models, along with two 340 MVA large power transformers and the MBH Power variant, have been deployed in numerous windfarm projects spanning multiple countries.
   
• In February 2021, Hitachi ABB Power Grids secured a significant contract from TE?A?, the Turkish transmission system operator, worth USD 20 million. Under this agreement, Hitachi ABB Power Grids' transformer division supplied multiple power transformers, featuring capacities ranging from 62.5 MVA to 100 MVA, and designed to operate at 154 kV.
   

This air insulated transformer market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume and revenue in ‘000 Units and USD Million from 2021 to 2032, for the following segments:

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Market, By Winding

• Two Winding
• Auto Transformer

Market, By Rating

• ≤ 10 MVA
• > 10 MVA to ≤ 100 MVA
• > 100 MVA to ≤ 600 MVA
• > 600 MVA

Market, By Application

• Residential
• Commercial & Industrial
• Utility

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • Russia
  • UK
  • Italy
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Australia
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
• Latin America
  • Brazil
  • Argentina